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10 • ROCK products • July 2018 www.rockproducts.com
IN THE KNOW
Industrial General Contractor
Specializing in Mining Equipment
Installation and Maintenance
crmeyer.com 800.236.6650
Piping
Concrete
Ironworking
Design/Build
Millwrighting
Boilermaking
Offices Nationwide
Building Construction
Equipment Structures
FAST
FACT
First quarter 2018 results
include the impact of acqui-
sition expenses related to
Granite's announced and
pending acquisition of
Layne Christensen Co.
"All three segments delivered strong
revenue growth and improved year-
over-year margins. Our Construction
segment led the way, with the Con-
struction Materials segment producing
strong top-line revenue growth in our
seasonally weakest quarter. The Large
Project Construction segment again
produced solid revenue growth and
improved profitability, driven pri-
marily by the contribution of newer
projects in our portfolio. While work
on under-performing, mature projects
had less impact in the first quarter, it
remained a drag on overall profitability,
and it is expected to negatively impact
margins through much of 2018.
"The near- and long-term outlook for
demand and funding of infrastructure
investment continues to improve. Back-
log trends remain steady, even with
more than 20 percent revenue growth in
the first quarter. Large Project Construc-
tion segment backlog at $2.61 billion
and Construction segment backlog at
nearly $1 billion points to continued
solid demand," Roberts said. "The inte-
gration of LiquiForce is moving along as
planned, and the integration planning
related to our announced acquisition
of Layne Christensen is progressing
very well. Considering the progress
that our joint integration teams have
made to date, we are increasingly confi-
dent that this deal represents the ideal
combination of value creation for all
stakeholders. We remain on track for a
successful closing in the second quarter
of 2018."
orbes magazine recently recognized
Granite as one of America's Best Mid-
Size Employers for the third year in a
row. The annual Forbes ranking honors
employers based on an independent
survey asking how likely employees
would be to recommend their employer
– and other employers in their respec -
tive industries – to someone else.
"We owe this honor to our employ-
ees who are the heart and soul of our
company," said Roberts. "Our employ-
ees walk and talk our Core Values, the
cornerstone of our success for nearly
a century. It is because of them that
we strive to create rewarding careers
while growing our business safely and
profitably."